Amazon infuses $40m into Indian payments arm
Ecommerce entity Amazon has invested Rs 3.5bn ($40m) into its digital payments arm, Amazon Pay India, through a rights issue, reported The Economic Times.
The investment involved the allotment of 35 million equity shares to its parent entities, Amazon Corporate Holdings and Amazon.com.
The transaction details were disclosed in regulatory filings with the Registrar of Companies (RoC).
This capital injection is the latest in a series of investments, following a Rs 3000m ($35.14m) infusion in November 2024 and a Rs 6000m ($70.3m) investment in June 2024, as reported by ET.
Amazon Pay holds the eighth position in India's Unified Payments Interface (UPI) transaction volume rankings as of March 2025, according to data from the National Payments Corporation of India (NPCI).
Amazon Pay has a market share of about 0.6%, the report said.
In February 2024, Amazon Pay secured a payment aggregator (PA) licence from the Reserve Bank of India, following its earlier approval for a prepaid payments instrument (PPI) licence.
Amazon Pay India has also engaged in partnerships with entities such as BookMyShow, MakeMyTrip, RedBus, IRCTC, and Kuvera, extending its reach into movie and travel ticketing and wealth management services.
For the financial year ending in March 2024, the company reported a 9.22% rise in operating revenue to Rs 22.86bn, up from Rs 20.93bn in the previous year, the news publication added.
It further highlighted a reduction of losses by 39%, down to Rs 9.11bn from Rs 14.99bn.
Amazon Pay India CEO Vikas Bansal has previously stated to ET the importance of implementing MDR for UPI transactions is crucial for smaller players to receive a fair share of the value they contribute to the payment ecosystem.
"Amazon infuses $40m into Indian payments arm " was originally created and published by Electronic Payments International, a GlobalData owned brand.
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